Amman - Several citizens have recently been deceived in financial fraud schemes by individuals posing as representatives of banks and financial institutions.
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These fraudulent activities persist despite ongoing warnings from financial institutions and regulatory bodies, including the Central Bank of Jordan (CBJ), urging the public not to share personal or financial information with unknown entities.
Financial institutions have consistently cautioned against disclosing card numbers, passwords, or OTP codes to any unfamiliar party. The CBJ has emphasized the importance of verifying the identity of any contact and reporting suspicious requests to the relevant authorities.
The Association of Banks in Jordan, led by Maher Al-Mahrouq, has called for heightened vigilance among citizens. Al-Mahrouq highlighted the need to avoid sharing sensitive banking information with unknown sources and to obtain all necessary information directly from banks.
The association is set to launch a comprehensive financial awareness platform, featuring brochures, educational materials, and videos, which will soon be available as a mobile application. This initiative aims to enhance public understanding and mitigate the risks of financial fraud.
Additionally, the association plans to introduce a new awareness campaign targeting all Jordanian governorates. This campaign will build on ongoing workshops and sessions designed to educate citizens on managing digital wallets and recognizing common fraud tactics. Al-Mahrouq reaffirmed that banking channels remain secure, with fraud predominantly occurring due to inadequate financial literacy.
Maha Al-Baho, CEO of the Jordan Payment and Clearing Company (JoPACC), reiterated the Central Bank's commitment to promoting financial literacy and securing financial transactions. She emphasized that the systems overseen by the Central Bank are highly secure, with breaches typically resulting from client negligence. International banks and agencies continually review Jordan's systems and draw insights from them.
Al-Baho clarified that these systems and banks do not solicit personal data through phone calls. The Central Bank is dedicated to advancing digital transformation in banking and electronic payment services, aiming to broaden financial inclusion through technological innovation.
Since the introduction of its electronic payment strategy in 2013, the Central Bank has established a robust digital payments framework supported by comprehensive regulations and global best practices. Continuous public education efforts have been a key component of this strategy.
In the past year, transactions through "CliQ" and "JoMoPay" amounted to approximately JD8.3 billion, with reported fraud incidents not exceeding JD100,000, indicating a relatively low incidence of fraud relative to total transaction volume. During the first half of this year, the "CliQ" system processed 32.9 million transactions, valued at JD4.95 billion.
In June, the value of transactions through the instant payment system reached JD963 million, a 4.4% increase from May. The number of "CliQ" users in Jordan rose to 1.43 million by the end of June, reflecting a 2.6% increase from the previous month. In June, 6.43 million transactions were executed through banks, a 1.7% increase from May.
The report indicates that 5.6 million transactions, or 86.8% of the total, were for money transfers amounting to JD796 million, while 846,000 transactions, or 13.2%, were for purchases totaling JD167 million. The average value of money transfer transactions was JD150.
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